Auxier Focus Fund Has “Achieved A Track Record That Many House Name Mutual Fund Managers Would Love To Have,” Says GuruFocus

(as of 6/30/2010)

August 2010, Lake Oswego, OR–Once again, the Auxier Focus Fund, now 11 years old, has soared past the S&P 500 Index and most of the fund’s peers in the Morningstar Large Value category. Founder, manager Jeff Auxier also earned impressive nods from Morningstar and GuruFocus. “We feel this is a great time to be an opportunistic manager in a “go-anywhere” fund. Currently, 70% of trading is not based on intrinsic value. This creates opportunities for the serious, long-term business analyst,” says Auxier.

AUXFX Outperforms 98% of Peers. (As of 6/30/10in its 3 year Morningstar Large Value category. The Fund’s 1, 3, 5 and 10 year Morningstar rankings are, respectively, 690 out of 1283 funds; 13 out of 1135 funds; 32 out of 952 funds; and 15 out of 494 funds. Morningstar rankings are based on a fund’s total return performance. Past performance is not an indicator of future results.)

Overall 5 Star Morningstar Designation. (Overall Morningstar rating as of 6/30/2010 out of 1,135 Large Value Funds. Derived from a weighted average of the risk adjusted performance figures associated with the Fund’s 3, 5 and 10 year Morningstar Rating metrics.)

Overall Lipper Leader for “Consistent Return”. (Lipper Leader Multi-Cap Value classification, received the following ratings for the 3, 5, 10 year and Overall periods, respectively: Lipper Leader among 259 funds, 201 funds, 90 funds and 261 Funds as of 6/30/2010.)

Overall Lipper Leader for “Preservation”. (Lipper’s Equity fund classification, received the following ratings for the 3, 5, 10 year and Overall periods, respectively: Lipper Leader among 9,704, 7,658, 4,104 and 9,704 Funds as of 6/30/2010.)

Overall Lipper Leader for “Total Return”.(Lipper’s Multi-Cap Value classification, received the following ratings for the 3, 5, 10 year and Overall periods respectively: Lipper Leader among 266, 202, 92 and 266 Funds as of 6/30/2010.)

Jeff Auxier added to GuruFocus’s “Guru” List. (GuruFocus: “Only a handful of people in this world can qualify as investment Gurus. We have carefully identified a number of investment Gurus based on their long term track record. We track their portfolio, buys, sells and insights in market.”) GuruFocus.com July 2010.

AUXFX makes the Morningstar 500. (Morningstar’s list of funds “narrowed down from 7,000” that Morningstar says “should be on your radar.”) Morningstar.com, May 2010.

AUXFX average annual returns (as of 6/30/2010 for the 1 year, 5 year and 10 year periods, 7/9/1999, were 12.99%, 1.97% and 5.79% respectively. The S&P 500 Index returns for same time periods were 14.43%, -0.79% and -1.59% respectively.)

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month-end performance, please call (877) 328-9437 or visit the Fund’s website. As stated in the current prospectus, the Fund’s annual operating expense ratio (gross) is 1.25%. The Fund’s adviser has contractually agreed to maintain the total annual operating expenses at 1.25% which is in effect until October 31, 201000. Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Please refer to additional important disclosure at the end of this release.

The Auxier Difference–Statistics show that most mutual funds are underperforming the market (Time magazine April 20, 2009, SEC Staff speech, April 2, 2009). Many have managers who don’t invest in their own funds (Morningstar 6/16/2008) and many of those managers can only claim less than 10 years experience (Morningstar 6/2009). Contrary to that, Jeff Auxier’s 27 years of investment know-how has guided him through every market bump and bubble. He remains one of his fund’s largest shareholders, investing more than 2 million dollars (his entire personal retirement). He will not sell a single share while still manager, and recently lowered his fees to investors by 10 Basis Points[1] To 1.25% (gross). To learn more about the Auxier Focus Fund visit www.auxierasset.com.

Auxier Asset Management

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling (877) 328-9437 or visiting the Fund’s website. Please read the prospectus carefully before you invest.

Fund returns (i) assume the reinvestment of all dividends and capital gain distributions and (ii) would have been lower during the period if certain fees and expenses had not been waived. Performance shown is for the Fund’s Investor Class shares; returns for other share classes will vary. Performance for Investor Class shares for periods prior to December 10, 2004 reflects performance of the applicable share class of Auxier Focus Fund, a series of Unified Series Trust (the “Predecessor Fund”). Prior to January 3, 2003, the Predecessor Fund was a series of Ameriprime Funds. The performance of the Fund’s Investor Class shares for the period prior to December 10, 2004 reflects the expenses of the Predecessor Fund.

The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks.

The Fund may invest in value and/or growth stocks. Investments in value stocks are subject to risk that their intrinsic value may never be realized and investments in growth stocks may be susceptible to rapid price swings, especially during periods of economic uncertainty. In addition, the Fund may invest in smaller companies which generally carry greater risk than is customarily associated with larger companies for various reasons such as narrower markets, limited financial resources and less liquid stock. Moreover, if the Fund’s portfolio is overweighted in a sector, any negative development affecting that sector will have a greater impact on the Fund than a fund that is not overweighted in that sector.

2010 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For the period ended 3/31/2010, the Fund’s Overall Morningstar Rating was 5 stars. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for the Fund is derived from a weighted-average of the performance figures associated with its 3- 5- and 10 year Morningstar Rating metrics. As of 6/30/2010, the Fund was rated against the following numbers of U.S. domiciled Large Value funds over the following time periods: 1135 funds in the last three years, 952 funds in the last five years and 494 for last ten years.With respect to these Large Value funds, the Fund received a Morningstar Rating of 5 stars, 5 stars and 5 stars for the 3- 5- and 10 year periods, respectively. Past performance is no guarantee of future results. The Fund may have experienced negative performance during one or all of the time periods listed.

[1] A basis point can be summarized as follow: 1% change = 100 basis points. 0.01% = 1 basis point

This Internet site is not an offer to sell or a solicitation of an offer to buy shares of the Fund to any person in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Foreside Fund Services, LLC. Distributor (www.foreside.com) | Hosted by clnw.com